India's ICICI Considers Buying Extra Stake in JV With Prudential PLC, Bloomberg Says, Citing Sources

Dow Jones02-18

-- India's ICICI Bank is mulling the purchase of an additional 3% of ICICI Prudential Asset Management, its joint venture with Prudential PLC, in which it already owns a 51% stake, Bloomberg reports, citing unnamed sources.

-- Last week, Prudential PLC said it was looking into listing the joint venture in a move through which it would partially divest its holding and return proceeds to shareholders.

-- The extra stake will help set the valuation ahead of the potential listing and keep ICICI's holding at 51% after it gives a 3% stake to employees, according to Bloomberg.

-- Prudential declined to comment to Bloomberg while ICICI Bank didn't respond to its request.

Full story: https://tinyurl.com/3b5awvxu

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

February 18, 2025 05:22 ET (10:22 GMT)

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elena.vardon@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 18, 2025 05:22 ET (10:22 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0823039010.USD","symbol_name":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2512137760","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2512137760","pubTimestamp":1739874120,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"-- India's ICICI Bank is mulling the purchase of an 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